Published by Jamie JemmesonSterling climbed versus the US dollar in foreign exchange markets yesterday (August 11th).The British currency traded at $1.6214, a 0.5 per cent rise in comparison to the previous day, as stocks rebounded, reports Reuters.A London-based spot trader is quoted as saying: "Sterling inherited a bid tone by default, by pure luck it's perceived the UK has handled its exit from the global financial crisis well."He added that investors may see euro/sterling as "the best option" for a "short-term punt".The euro was little changed at 87.93 pence in foreign exchange markets as the currency tumbled slightly from the month's best performance of 88.86 pence achieved the previous day.Earlier this week the Bank of England lowered its growth forecast for the year from 1.8 per cent to 1.4 per cent, in a move that may have impacted forex dealers and could provide an indication of the nation's economic strength.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site